AGRICULTURAL MARKETING AND COMMODITY TRADING

AGR3MCT

2018

Credit points: 15

Subject outline

The purpose of this subject is to provide an introduction to marketing theory, marketing concepts and its evolution from a strategic and applied agribusiness perspective in local and global contexts. Students will develop introductory knowledge and skills in collecting and evaluating market data, distinguishing the characteristics of possible markets, assessing the viability of current operations to take advantage of marketing opportunities and identifying market factors and risks. Understanding of distribution processes, pricing, pricing trends and communication will be developed, including the role of rural producers, marketers and their agents in risk management strategies. The subject also explores the operation of futures markets, forward selling arrangements, put options, foreign exchange rates, contract law, cash flow and taxation planning, and contingency planning.

SchoolSchool of Life Sciences

Credit points15

Subject Co-ordinatorPenelope Smith

Available to Study Abroad StudentsNo

Subject year levelYear Level 3 - UG

Exchange StudentsNo

Subject particulars

Subject rules

Prerequisites Admission into SBATE

Co-requisitesN/A

Incompatible subjectsN/A

Equivalent subjectsN/A

Special conditionsN/A

Readings

Resource TypeTitleResource RequirementAuthor and YearPublisher
ReadingsMarketing - core concepts and applicationsPrescribedPride, W, Elliott, G, Rundle-Theile, S, Waller, D, Paladino, A & Ferrell, O 20072ND EDN, WILEY, BRISBANE.
ReadingsAn introduction to economics - concepts for students of agriculture and the rural sectorRecommendedHill, B, 20063RD EDN, CABI, OXFORDSHIRE, UK.
ReadingsThe farming game: agricultural management and marketingRecommendedMalcolm, B, Makeham, J & Wright, V 20052ND EDN, CAMBRIDGE UNIVERSITY PRESS, PORT MELBOURNE, VICTORIA.
Readingshttp://www.asx.com.au/products/asx-grain-futures-and-options.htmRecommendedtbatba
Readingshttp://www.cmegroup.com/trading/agricultural/Recommendedtbatba
Readingshttp://www.cropforecasters.com.auRecommendedtbatba
Readingshttp://www.daff.gov.au/abares/Recommendedtbatba
Readingshttp://www.fao.org/giews/Recommendedtbatba
Readingshttp://www.oecd.org//site/oecd-faoagriculturaloutlook/commodityfocus2012-oecd-faoagriculturaloutlook.htmRecommendedtbatba

Graduate capabilities & intended learning outcomes

01. Describe the key concepts of agribusiness marketing in relation to the operation of commodity markets both nationally and internationally

Activities:
Through both group work, excursions and tutorials, market concepts and how they apply to agriculture will be explored. Case studies of various commodities and markets will be used to illustrate the operation of these commercial activities.
Related graduate capabilities and elements:
Ethical Awareness
Creative Problem-solving

02. Apply the concepts of supply, value chains, product development and marketing processes to marketing

Activities:
Lectures, excursions and tutorials will use case studies to develop an understanding of the interrelationship of supply, value chains and product development. Presentation and discussion of finding will be expected in tutorials.
Related graduate capabilities and elements:
Ethical Awareness
Creative Problem-solving

03. Use standard tools to analyse commodity marketing risk and opportunities in domestic and international markets

Activities:
Exposure to analysis tool used in the industry will be done through workshops and selected computer programs and modelling.
Related graduate capabilities and elements:
Ethical Awareness
Creative Problem-solving

04. Analyse agricultural commodity trading instruments and develop pricing and risk management strategies

Activities:
Lectures, specialist industry representatives and workshops will be used to enable students to develop their understanding of risk management in this context. Use of Southern Farming Systems crop challenge (or similar) will be used.
Related graduate capabilities and elements:
Critical Thinking
Inquiry/ Research
Ethical Awareness

05. Communicate investigations of commodities using professional and academic conventions

Activities:
Students will write and present a report to industry standards. These may be done in small groups.
Related graduate capabilities and elements:
Writing
Speaking

Subject options

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Start date between: and    Key dates

Epping, 2018, Semester 1, Day

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorPenelope Smith

Class requirements

WorkShop Week: 10 - 22
Two 2.0 hours workshop per week on weekdays during the day from week 10 to week 22 and delivered via face-to-face.

Assessments

Assessment elementComments% ILO*
Assignment (1800 words)40 01, 02, 03, 04, 05
Essay (700 words)20 01, 02, 03, 05
Written Exam (2 hour)40 01, 02, 03, 04